Roles and Responsibilities of Marketing Functions in Grantham College
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This report discusses the roles and responsibilities of marketing functions in Grantham College. It covers market research, finance, product development, communication, planning, and promotions. It also explores the interrelationship between the marketing department and other business functional areas.
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MARKETING ESSENTIALS
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Table of Contents INTRODUCTION...........................................................................................................................3 MAIN BODY...................................................................................................................................3 TASK 1.......................................................................................................................................3 TASK 2.......................................................................................................................................6 CONCLUSION..............................................................................................................................12 REFERENCES..............................................................................................................................13
INTRODUCTION Marketing is the technique which is used by company for promoting and advertising its products and services in the market place by advertising and various marketing tools. The below report include the company. Marketing orientation has the major requirement to have the increase in level of satisfaction and locality as it increase to have leads in repeat to sales which is making the competitors habeas-by offering lower prices or special introductory incentives. Above study includes responsibilities and roles of marketing in the organization. Evaluating components of marketing role. Further the study includes interrelation among various elements with various functions of company. MAIN BODY TASK 1 Roles and responsibilities of marketing functions in Grantham College: The marketing functions plays a crucial role in the operation of any business. Market research This is an activity performed by the Grantham college in order to gather the information about the target market. The market research is specifically concerned with the markets. Grantham college can use this information to maintain the competitive edge in the market as this research will provide the demands of the customers. Through market research Grantham college can come to know which courses will attract more students in their college and thus they can check the feasibility of that course which will help Grantham college to make the decision of whether the course should be introduced or not. Finance The next marketing function that Grantham college must keep in mind is the funds that will be required to run the college. It requires money to make money therefore Grantham college
will need funds from banks and other financial institutions in order to operate their college. The college are generally funded by trustees of the colleges. Grantham college requires funds to pay salaries of the professors and other staffs, organize functions at the college etc. Product development This function of marketing involve introducing new product in the market in order to increase the market share of the organisation. For Grantham college this would include providing new courses to the student so that they prefer Grantham college over other colleges. Since the college is at a small scale they need to continue perform this function of marketing in order to attract new students. Communication Thisfunctionofmarketinginvolvetheorganisationinforming,persuadingand motivating the people in order to maintain their internal management. The communication at Grantham college involve the communicating any new course that might be introduced so that the staff could be trained to teach the new course. Communication is very important factor and the college must be efficient at this so that any confusion does not occur. If the communication channels are not good then this may result in duplication of work, conflict among employees etc. Planning In any sector this is one of the most important function of marketing as this involves the long term success of the organisation. The planning function involve setting up some strategies in order to organize their work. These plans will provide path for Grantham college to achieve their goals. In each and every work the there are different type of plan that will help Grantham college to achieve their goals effectively and efficiently. Plans are forecast of future so the organisation needs experts to formulate these strategies in order for them to be successfully implemented. Promotions This is again the function which is important to the internal management of Grantham college.Thisincludepromotingtheemployeeofthecollegebyincreasingtheirroles, responsibilities and pay. These promotions must be based upon the staff capabilities and not upon anything else. The promotion function helps in motivating the staff so that they can perform their work more effectively and efficiently. If the staff is not promoted for a long period
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of time then they might get frustrated and leave the college which will result in increase staff turnover. Interrelationship between marketing department with other business functional areas. Human resource and marketing department The human resource and marketing department work together in order to create and improve the brand image of the Grantham college. The promotion of the organisation to create the brand image is in the hand of marketing department and with the collaboration of Human resource the brand of the company is communicated to the staff working at Grantham college too. The human resource department recruits the best employee for the promotion in the marketing department and these days the organisation have come to know that the brand image is not just for the customer it's for the employees too so the marketing department has started working with the human resource department in order to make this possible in Grantham college. Through collaboration with the human resource department the brand message can be spread in the whole organisation with the help of a strong internal communication, thus benifiting the marketing department. Also, through collaborating with the marketing department the college can be benefited by adapting the communication methods and styles as marketing employees. Finance and marketing department The relationship between finance and marketing department is considered to be one of the most in any type of organisation. This will benefit Grantham college in the achievement of the vision and mission of their college. All the funds required by the marketing department to promote the activities of the organisation is in the hand of the finance department, therefore there must be a good communication and healthy relationship in these two department in order for the smooth working of the organisation. Grantham college needs support of both these departments in order to succeed in the long term. The competition faced by the college is very tough so the collaboration of both of these departments will help Grantham college in increasing their market share and improve their brand image. If the employees in the finance function can understand the need of the marketing department then they can create mutual benefits which will increase the profit of the whole organisation. Thus, these two department need to work together in order to achieve the goal of Grantham college. Research and development and marketing department
These two department will help Grantham college in understanding the needs and requirement of the students. This can be very strong weapon for the organisation to gain competitive advantage in the market. Through collaborating with the marketing department the research and development department can promote the new courses they think that they must introduce in order to attract the new students in the market increasing Grantham college market share. The R&D department can also collect information from the marketing department of the current market needs and wants in order to get an idea of the market. if Grantham collegebrings R&D and Marketing together then they will build a strong competitive company.They can focus on the students and through continue innovation the company can improve their brand image and market standing. Granthom college is a small college and if the R&D department and marketing department work together they can grow in the market at a fast pace and grab the opportunities in the market. TASK 2 Marketing-mixEuropeanschoolof economics Grantham college ProductThe courses which are offered bytheEuropeanschoolof economics include the unique bachelor,masterandMBA degrees in a variety of field like finance, human resources, media and communication etc. Thecoursesofferedbythe Grantham college are diploma in Arts and design, hair and beauty,travelandtourism, engineering,science, computingetc.theyhavea widervarietyofcourses availablethentheEuropean school of economics. PriceThepricechargedbythe European school of economics is£1080forthefreshersin their college and around £900 Thepricechargedbythe Grantham college is£7600 to 9800 depending upon the type ofcoursewhichthestudent
for the medical students. Their chargeisquitelowas compared to Grantham college chooses to go on. There price are quite high. They need to consider there competitor price too. PromotionThese are the activities which will help promote the courses provided by European School of Economics. They use social medialikeFacebook, Instagrametc.,topromote their product. This is because thesetechniquesarecheaper and can target more customers. Grantham college is a private institutionwhichhavetheir own website and the interest studentscanenrollbytheir websites.Theypromote through other online websites like YouTube. PlaceThismarketing-mixinclude theplacethroughwhichthe collegeoperates.European School of Economics place of operation is in Madrid, New York,London,Rome, Florence, Milan. Theplaceofoperationof Granthamcollegeis Grantham, England. They also providetheirstudentswith online lectures so that they can learn from their home too. ProcessProcess refers to the steps of delivering the product or study programmestothestudent. TheEuropeanSchoolof Economicsprovidetheir studentswithclassroom lectures,tutorialtothenew students, guest lecture etc., in order to give the best services they can. The Grantham college uses the processofonlinelectures, online tutorial etc., to process their teaching styles. They also provideinternshipprograms forthenewaswellasold students.
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PeopleTheEuropeanSchoolof economicshaveanexcellent task force of more than 5000 professors in their college each of them being expert in their field and are well experienced to perform their job. TheGranthamcollegehave around a task force of more than 8000 professors providing knowledge of the wide range ofcoursesavailableintheir college. Physical evidenceTo attract buyers or students thisinstitutionofferseveral otheractivitieslike,club, societies,ships,eateriesand (McDonald,2015).fitness centreetc.topromotethe brand in the market. Granthamcollegeprovides differentstudentsupport systemprogramssuchas Teachingandlearning program,Veteransupport team, Glife etc. SWOT analysis of Grantham college Strengths Strengths are the things that the company perform better than their competitors. The strengths of Grantham college include that since the college is operating at a small scale their price are quite affordable to the students and they provide excellent services to their students at such reasonable prices. Also, the college provide a number of courses to their students which is discussedearlier.Thecollegeprovidesavastopportunitytotheirstudentlikemultiple modalities, versatility in the job market etc., in addition to this the college also provide video lectures in their classes, they have an excellent infrastructure in their college including their robust library, college wide innovation etc. the other strengths include the strong faculty and staff of 8000+ available. Weaknesses Weaknesses are the activities that Grantham college cannot perform well or their competitor can perform these activities better than them. The weaknesses of Grantham college includes though the college have an excellent staff but they are still understaffed as they provide so many courses they require to recruit more employees in their college.(McDonald, 2015).The
college also has a weak internal management and as a result their performance are weak internally which reduces the efficiency of the work. Since the internal management is weak the communication channel are also weak and this may sometime causes disruption and duplication of work. Grantham college need to work upon these weaknesses in order for the college to work effectively and efficiently in the long run. Opportunities The opportunities for any organisation is those activities which happen in the external environment but affects the company in a positive manner. The opportunities for Grantham college includes the wide range of market still available for them to explore, though the company provide so many courses then also there are a lot of souses they can still provide in order to increase their market share. The company has good relationship with the locals which will provide them with the smooth working of their organisation. These opportunities must be grabbed when it comes as this will help in gaining competitive advantages over their competitors and thus they can increase their market share.(Marketing mix,2019). Threats Thethreatsforany organisationisthose activitieswhichhappenintheexternal environment but affects the company in a negative manner. The threats which are there for the Grantham college include the intense competition they face from the large scale colleges operating in London as the students always prefer the best college available for them. Negative perceptions surfaced as a Threat because of poor perception toward Grantham college, a general devaluation of higher education, and an image of violence in the region. These threat must be avoided or should be dealt with in order for the smooth working of the organization.If these threats are ignored then Grantham college might have to face serious consequences. PESTLE analysis Political factors Political factors are related to the government and their policies. It includes taxes, subsidies. Political stability and the tariffs. The Brexit can have an adverse effect on the Beauty Giant as now they would have to pay additional taxes and tariffs for selling their goods in other European countries. Grantham college will be affected by these factors in the short as well as in long term both, therefore they must be ready for these challenges. Economic factors
These includes both the micro and the macro level factors which will affect the overall educational industry. These economic factors include inflation rates, interest rates, exchange rates etc., these will increase the cost of the organisation in the medium and long term. The college need to be aware of these factors so that any change can be dealt with. The college can enter into future contracts in order to reduce the risk of increasing in exchange rates and interest rates. Social factors These are the factors which include the change in the preferences and trend of the customers. These social factors also include the cultural trends in the society. The Grantham college must also keep these factors in their mind so that they do not influence the society in any way. The students want the best college for them so Grantham college must have all the facilities in order to attract more students in their college. (Tomczak, Reinecke and Kuss, 2018). Technological factors It has become imperative for every educational institution to use the latest technology so that they can not only achieve increased productivity but also other cost related benefits. Grantham college must use modern technology, and they also indulge in online providing online lectures in order to gain wide market share with minimum cost. These technological factors must be implemented in the Grantham college so that they can maintain the competitive edge in the market and increase their market share. Environmental factors The Grantham college must focus on going green and should use eco friendly techniques for teaching and they should take care of the waste that are being generated in their college. They must minimize the use of plastic products in order to protect and preserve the atmosphere. These environmental factors must be maintained otherwise the environmental groups may pressure them and these might affect the effectiveness and efficiency of their operations. (Rodrigues, Pimentel, and Oliveira, 2015) Legal factors It is a legal obligation of every company to abide by the laws and regulations. Therefore, they must take care of these guidelines in order to operate smoothly in the business environment without having any legal trouble. The college might face some serious consequence if they do not follow any of these rules and regulations of the country in which they are operating. These
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legal factors will cost the company additional amounts in case they do anything which is not legal. Marketing plan Grantham college is an educational institution which provides a variety of courses to the student of United Kingdom. There has been a marketing plan being given below for the Grantham college.(Nykiel, 2016) Executive summary Grantham college was established in the year 1948 to provide educational service to the student of the country. The college provides a wide range of bachelor and master courses to their students. The college operates in Grantham, England. The college operates at small scale with around 8000 professors in the college and they are working toward providing the best education the can to their students. The college provides excellent quality education at a reasonable price to their students. Mission of Grantham college(Datta, Ailawadi and Van Heerde, 2017) The mission of Grantham college is to deliver the best inspiration, vocational, technical and professional level of education to their students to achieve the best result for them. They have been working hard to achieve their goal in the longer term. Vision of Grantham college The vision of Grantham college is to achieve their goal with at most efficiency and effectiveness so that they can maximize their earning with the achievement of their goals. They provide regular training to their professors working so that they can achieve their vision. Objectives The college has different objectives, this includes the following. To monitor their staff members and support them to remove any barriers they are facing in the college in order to provide the best quality teaching to their students. To ensure that the external objectives are met and that the local communities are satisfied with them. (Sarsby, 2016) To provide training to the new as well as existing employees working in their college so that they are updated with the new learning techniques of the different courses being provided by the college.
To ensure that there is equality among all the staff members and their students and no one is discriminated on any basis like caste, gender, color etc. this will help in satisfying their social objectives. (Ramli, 2015) Segmentation Targeting and Positioning model The STP process is concerned with establishing links between the market and it also helps in identifying the way in which company chooses to compete in the market. The first step in the STP process begins with the market segmentation.Grantham collegeneeds to segregate the market on the basis of identifiable characteristics and factors. This will help the company in selecting appropriate markets and target their products accordingly. The second step in the STP process is concerned with targeting. It is concerned with targeting the particular segment of students and focusing on their related group. The final step is concerned with positioning. It means positioning the course in the target market and analyzing their key benefits and characteristics. Lastly, the student get to choose the required course which they are looking for. Thus, STP help the Grantham college to look for feasible courses which they can teach In their college.(Brookes, 2015) Recommendation Use of marketing mix help to evaluate various micro environmental factors which can help in the strategic planning which will be helpful for the Grantham collage. There are many factors which will help in evaluating the product and service offered are improved which can help in the development of the strategy for collage this will help in the development of various strategies. With the strategy development of prices and fees structure must be evaluated which can help in the development of the strategies. places and access for the better experience of the students providing a better study environment of the place. Physical evidence must be evaluated which can be used to evaluate the imperative buildings, well trained staff. There is an evaluation of macro environment which can help in evaluating and developing the strategies which can help in the development of the strategies which can help in identification of the threats which can be eliminated by the strategic development and for the welfare of the collage.7P will help in identification of strategic tools.
CONCLUSION From the above study it has been concluded that marketing plays an essential role to bring competitive advantage for the firm. Marketing plays a key role in modern organization and helps in promotional activities. There are key elements on which company have to focus to bring competitive advantage for the firm. Roles and responsibility of marketing includes meeting customers expectation, creating brand reputation and marketing Planning. Marketing has an interrelation with other organizational context as it is related to finance, HRM and production departments of the business, and they work together to achieve the objective of the firm. The Grantham college is performing quite well and is expected to grow in the future. The college must take care of the weaknesses they are facing in their college, also they should keep their knowledge updated so that they can grab any opportunities that comes to them. REFERENCES Books and Journals Brookes, M., 2015. Marketing Channels. Wiley Encyclopedia of Management. pp.1-2. Datta, H., Ailawadi, K.L. and Van Heerde, H.J., 2017. How well does consumer-based brand equity align with sales-based brand equity and marketing-mix response?. Journal of Marketing. 81(3). pp.1-20. Filiatrault, P. and Chebat, J.C., 2015. Marketing Budgeting Practices: An Empirical Study. In Proceedings of the 1987 Academy of Marketing Science (AMS) Annual Conference(pp. 278-282). Springer, Cham. McDonald, M. and Wilson, H., 2016. Marketing Plans: How to prepare them, how to profit from them. John Wiley & Sons. McDonald, M., 2015. Marketing accountability. Wiley Encyclopedia of Management, pp.1-8. Moorman, C. and Day, G.S., 2016. Organizing for marketing excellence. Journal of Marketing. 80(6). pp.6-35.
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Nykiel, R.A., 2016. Marketing Your Business-A Guide to Developing a Strategic Marketing Plan. Perreault, W.D., 2018. Essentials of marketing. New York: Mc Graw Hill. Ramli, N.S., 2015. Immigrant entrepreneurs on the world's successful global brands in the cosmetic industry. Procedia-Social and Behavioral Sciences. 195. pp.113-122. Rodrigues,F.,Pimentel,F.B.andOliveira,M.B.P.,2015.Oliveby-products:Challenge application in cosmetic industry. Industrial Crops and Products. 70. pp.116-124. Sarsby, A., 2016. SWOT analysis. Lulu. Com. Steinhoff, L. and et.al., 2019. Online relationship marketing. Journal of the Academy of Marketing Science. 47(3). pp.369-393. Tomczak, T., Reinecke, S. and Kuss, A., 2018. Marketing Implementation and Management Control. In Strategic Marketing (pp. 223-244). Springer Gabler, Wiesbaden. Wilson, A and et.al., 2016. Services marketing: Integrating customer focus across the firm.